Before the start of the Covid-19 pandemic, nearly half of Gen Z and Millennial respondents in the Deloitte Global Millennial Survey 2020 reported feeling stressed all or most of the time, citing family welfare, long-term finances and job prospects as primary causes. Perhaps surprisingly, in a follow-up “pulse” survey conducted mid-pandemic in May, stress levels among both generations fell about eight percentage points, hinting that the slowdown of life in lockdown may have reduced stress.
Despite the dip, respondents seem more inclined than previous generations to consider stress problematic and mental health important. Half of Millennials and Gen Zers questioned in the primary survey said they think stress is a legitimate reason to take time off from work, and almost one in three actually did so in the past year.
However, there are lingering stigmas regarding stress. For example, in the primary survey, only 44% of Millennials globally (and 38% of Gen Zers) who took time off work because of stress or anxiety issues admitted that was the reason to their employers. Most — especially women, who were significantly less likely than men to admit the cause of their absences (54% to 45%) — cited other reasons. Millennials who were candid about their absences were three times as likely to say their organizations provided strong mental health support (52%) rather than little or no support (16%).
The physical and emotional burdens of anxiety do more than cause people to miss work. They can also affect people’s overall job performance and, ultimately, their job loyalty, making this a critical issue for employers to focus on.
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Stress Remains A Pervasive Issue Despite Slight Decline During The Pandemic
Despite the slight declines seen in the follow-up survey, stress and mental wellness remain critical issues for younger generations, and these issues are manifested in work settings. According to the Household Pulse Survey conducted by the National Center for Health Statistics and the Census Bureau to assess changes in mental health, 18-to-29-year-olds and 30-to-39-year-olds consistently report higher rates of anxiety and depression symptoms as compared with other age groups.
Family welfare, long-term finances and job prospects remain the primary sources of stress in the midst of the pandemic. Financial concerns are a particularly acute stressor for Millennials, many of whom began their careers in the wake of the Great Recession and now face another downturn. During the pandemic, 61% of Millennials foresee their financial situations worsening or stagnating in the next year. However, the Deloitte survey reveals a broad range of issues weighing on Millennials’ and Gen Zers’ minds — including everything from climate change to work/life balance to political uncertainty.
“It’s easy to see why the global conversation on mental health is picking up pace and becoming more prominent around boardroom tables,” Category : general
